Summary - 48A, 48, VICTORIA ROAD SN1 3AY
5 bed 3 bath Terraced
Three flats with parking and planning for an 8-bed HMO—income and upsizing potential.
Three self-contained apartments producing £33,000/year (approx. 9% yield)
A substantial Victorian terraced property arranged as three self-contained apartments, currently producing £33,000 per year (circa 9% yield). Each flat has its own boiler and gas central heating; off-street parking to the rear serves up to three cars. The building’s generous footprint (approximately 2,443 sq ft) and existing rental income make it an immediate cashflow asset for a buy-to-let investor.
Planning permission was previously granted to convert cellar and attic into additional letting rooms, and proposed 8-bed HMO plans are available to view. In its current layout the property can also be operated as a six-bed HMO, offering flexibility to increase rental yield after reconfiguration. Recent individual boilers reduce short-term capex on heating.
The house retains period features—bay windows, high ceilings and fireplaces—and sits close to Old Town, the town centre and the main railway station, supporting strong tenant demand from students, young professionals and migrant families. Broadband and mobile signals are good, and several nearby schools are rated Good by Ofsted.
Material considerations: the area is classified as deprived with a high local crime rate, which can affect tenant profiles and insurance costs. Interiors will benefit from modernization in places (1990s kitchen, some rooms need updating). Plot size is small and there appears to be limited external amenity space. Prospective buyers should factor in refurbishment costs and higher management/letting overheads for a multiple-occupancy investment. Chain-free sale simplifies acquisition timing.
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